Viewing Online On Ground Online sections — 7 topics, discussion questions, one cumulative final In-person sections — 3 units, Exams 1–3, then the final
Course format
Topic 4
Unit 2 · Topic 4

Financial Literacy – Loans

Short- and long-term loans — auto loans, credit cards, student loans, and mortgages — plus an APA-style written analysis. The heaviest week of the course.

First time here? Take a tour of the week.
← Topic 3 Financial Literacy – Savings Topic 5 → Statistics
255 pts 310 pts in Unit 2 3 objectives

What you'll learn

  1. Compute monthly payments and interest costs of short-term loans such as auto loans or credit cards.
  2. Find the interest, the balance due, and the minimum monthly payment for loans.
  3. Analyze the various aspects of long-term loans such as student loans and home mortgages.
Unit 2 This topic is assessed on Exam 2, together with Topic 3. See what is on it

Sections

Mini Lesson A quick read on the week's core ideas. ~250 words. DQ 1: Discussion Walkthrough, posting rhythm, and what the DQ is really asking. DQ 2: Discussion Walkthrough, posting rhythm, and what the DQ is really asking. Major Assignment 2: Financial Literacy 4 components — walkthrough for each. Review Six worked questions to practice before ALEKS. Mastery Check 4 quick questions - 2 multiple choice, 2 calculations. Perfect score earns one substantive participation post.

Interactive tools

Playground Amortization Sandbox Drag the principal, rate, and term sliders. Watch the monthly payment, total cost, and total interest update live. The balance curve and amortization schedule reveal how each payment splits between interest and principal. Playground Credit Card Trap Set a starting balance and APR. Watch three payment strategies race to zero — minimum only, double the minimum, and a custom dollar amount. The minimum-only curve flattens for decades. The picture is the lesson. Course tool Financial Formulas Calculator All seven ALEKS dictionary formulas in one calculator — including the loan amortization monthly-payment formula. Solve for any variable; Excel workbook included.

Tools & Resources

Library Topic 4 resource library Curated extras across all 6 lessons. 3 items available so far. Study aid Glossary Every vocab term across the 6 lessons in one study sheet. 31 terms so far. Study aid Cheat sheet Key formulas, common mistakes, and quick-reference factors. Printable for the test.
← Topic 3 Financial Literacy – Savings Topic 5 → Statistics